June 2024 Dividend Income Update

I don’t have too much to report, things are moving along well with respect to the portfolio. I adopt a hybrid approach and try to stay out of the arguments on Twitter/ X on why dividends are better than total growth or vice versa.

If you like to track your dividend income like I do, here’s a free dividend tracker spreadsheet download for you.

June 2024 Dividend Income Update

My goal for 2024 is to have at least $36,000 annually of dividend income.

Here’s my May 2024 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $35,515.

A few notes: I leave the US dividends received/ estimated as a 1:1 US and CAD dollar exchange to keep thing simple.


My June 2024 Forward Dividend Income is $35,710 and this is a 0.5% increase from last monthor a $195 increase in annual dividend income.

My “hourly rate” is now $4.08 whether I’m eating or sleeping or cleaning my stove.

Or the rate is $17.17/hour if I was working a 40 hour work week.

On June 1 the minimum wage increased to $17.40/hr so I have a bit more to go until I am making minimum wage with my dividend income.

Talk about passive income!

Here’s my screenshot chart from Wealthica below on my 12 month performance relative to VTI and VEQT. 12 month returns for the S&P/TSX is 7.82% and the S&P500 are 15.17%.

Wealthica Returns 2024

To get to this page, log into Wealthica and click on “add-ons” then click on “Performance Report” in the drop down box. You’ll be able to see how your portfolio compares to the S&P/TSX and the S&P 500 (but it doesn’t include the dividends).

Personally, I think it’s not a bad idea to keep track of how your portfolio compares to the benchmark indices, because if you have 75 different Canadian dividend paying companies and your return over the years is only 4% compounded annually then you might want to think about changing your investment strategy.

Comparing my own portfolio to the benchmark (and being appalled at the measly return) is what prompted me to switch to at least 50% of my portfolio in ETFs a few years ago and since then my portfolio has been doing better total growth-wise.

My June 2023 forward dividend income was $31,586 and my June 2024 forward dividend income is $35,710 so the YoY increase is 13.1%.

Here’s how my forward dividend yield looks like compared to the last few years, it has definitely slowed down recently.

You can read my Wealthica review here if you’re interested in it. It’s not free anymore but it still provides good value for the cost.

I love it as it works especially well with my Questrade accounts because of the API access and the graphing capabilities of Wealthica are much better than what you would just get with Questrade.

Passiv also gives you very detailed information about your dividend income and Passiv Elite is free for Questrade users.You can even see your time-weighted returns for the past 12 months or year to date. It also breaks down exactly how many dividends you received from with companies or ETFs month by month into a pretty colour coded format.

One downside with Passiv is that it always seems to be down at night time (the API and Questrade sync doesn’t seem to work then).

You can sign up for a free Passiv Elite account here to look at your dividends received.

If you prefer your own spreadsheet instead, and you’re interested in getting your own dividend income spreadsheet tracker, sign up for a free download here.

DIVIDENDS RECEIVED

I like tracking upcoming payments and ex-dividend dates using the Dividend Pro App. I just renewed for another year and they increased the price, it’s now $15.50 or so for a year but I think it’s worth it so I can keep myself updated regarding dividend payments and changes.

It doesn’t seem to be as good right now though, they didn’t update the VTI distribution recently (it was paid out early July but it is not updated in the app).

Wealthica also has a free add-on called “Income Investor Lite” and you can choose to see the Income Calendar, Dividend Holdings, and Upcoming Payments with a subscription of $9.99/year.

You can do a free trial of the upgraded income investor lite (no credit card needed) for seven days.

The upgraded version has an income calendar showing you the upcoming payments.

Also it shows you the dividends paid (in total), and forward yearly dividends expected including the current dividend yield and your yield on cost (in the paid version).

The free version shows you an income chart of the last 12 months of payments and the forward 12 months of payments expected, however the forward 12 months doesn’t seem accurate.

Wealthica Income Investor Lite

I like it because you don’t have to manually update any holdings when you make changes to the number of shares you own etc. however, I don’t like that you can’t see it on the phone (and it’s just on desktop).

Therefore, I’ll stick to Dividend Pro for now.

Here are the companies and ETFs that paid dividends and distributions in June 2024. It was a below average month, around $2000.

  • Fortis (FTS.TO)
  • Manulife Financial (MFC.TO) (I have yet to clean my stove)
  • Suncor (SU.TO)
  • Sunlife (SLF.TO)
  • Vanguard Total International Stock Market (VXUS)
  • Vanguard Emerging Market ETF (VEE.TO)
  • iShares S&P/TSX Capped REIT Index ETF (XRE)
  • Riocan REIT (REI.UN)

DIVIDEND PORTFOLIO CHANGES

Here are some changes and dividend increases to the portfolio:

  • I updated the 12 month trailing yield for the Vanguard ETFs, including Vanguard Real Estate ETF (VNQ), Vanguard Total Stock Market ETF (VTI), Vanguard Total Stock Market ETF (VXUS), Vanguard ex-Canada ETF, Vanguard Emerging Market ETF (VEE.TO)
  • I added 5 more shares of LVMUY (Louis Vuitton Moet Hennessy)
  • Added more shares of ex-Canada ETF (VXC.TO)

Here are some of my favourite five Canadian dividend stocks if you’re interested.

Onwards and upwards.

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2 thoughts on “June 2024 Dividend Income Update”

  1. I did. Mostly XAW to provide some diversity in my all CAN non-registered account. This ETF has performed much better than I could have anticipated. Up 16% since I first bought it at the beginning of 2024. I also started dividend re-investment for the first time in 20 years! Much, much easier to manage for me anyway. I could only wish to get to your level of dividends so will have to be content with what I am getting.

    Keep up the great postings and enjoy those returns! very well done on both fronts.

    Reply
    • @Greg- I love XAW and VXC, it’s my largest position. It’s a great way to hybrid invest and keep the dividend investor in check. Also later with the growth of your portfolio you could always sell some and switch to dividend for higher yield, though it’s painful to sell your winner like that I suppose. Thank you Greg, we will get there, just takes some time.

      Reply

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